Hire Mark A. , a brainy Business Trainer from Bury St Edmunds, United Kingdom | Expertbase

Quick Summary

Online Anti Money Laundry (AML) courses allow you to tick the boxes on AML but falls well short in terms of learning and skills.

E-Learning For Anti-Money Laundering - Don't Waste Your Budget!

1 Comment
Finance, Financial Tools
54
2 min
276 Words
1.59 K
So, you have your e-learning for Anti Money Laundry (AML) & Financial Crime. It seems good, staff are passing the regular tests and it looks like it is a cost effective solution.

Part of the problem, of course, is that most institutions are fighting last year's war and that e-learning is mostly reactive and static [as, necessarily are many policies & procedures]. For every $ financial institutions spend on AML structures, the criminals are spending as much [probably much more]. It is Black Swan stuff, presently we are looking for what we know. The attacks though, are coming from new jurisdictions, new people, new businesses, new tricks and unexpected insiders.

What can't be taught in an online course is the 'smell test', that 6th sense that something is not quite right, those little details not caught by the systems. The feeling that you need to ask more questions, dig a little deeper and put risk before revenue in daily work.

It's tough, how do you teach instinct? Well, in my experience, the only effective way is a face to face course, case study based and utilizing the experience of participants to look at real, recent examples of crime.

Someone on a recent AML course told me she had learned more about the subject in 1 day than in her whole banking career because it was real and she was able to discuss her issues with other colleagues from around the country. The right course with the right trainer, it is has the biggest impact and delivers lasting results - e-learning has its place but can it really teach you how to 'smell'?
This Article is authored / contributed by ▸ Mark A. who travels from Bury St Edmunds, United Kingdom. Mark is available for Professional Training Work both Virtually and In-Person. ▸ Enquire Now.

Your Comments (1)

Your thoughts matter to others - more than you can imagine.
Md. Al
Need AML Training Material
Md. Al from Dhaka, Bangladesh

More Articles published by Mark

1 Free | Ad-Free | Full-Text Business Papers
More Articles written / submitted by Mark A.
Finance, Financial Tools

AML & Financial Crime Compliance Training - Quit 'Box Ticking'

Anti Money Laundry (AML) & Financial Crime Compliance training needs to be more than just facts and a little quiz
50   |   1.51 K   |   2 min

More 'Finance, Financial Tools' Articles

4 more Articles that may interest you, too...
Albert E. : The 'Unprofitability' Of Modern Technology

The 'Unprofitability' Of Modern Technology

Of all the findings on business strategy yielded by the study of the businesses in the PIMS? database, the following is one of the most controversial: Businesses that are highly investment intensive, i.e., those that use high levels of investment per dollar of sales revenue (telecommunications network providers, bulk chemical companies, utilities), are much less profitable than businesses with lower levels of investment per dollar of sales.
6.16 K   |   109
Albert E. : Living With The Limitations Of Success

Living With The Limitations Of Success

Once companies reach a certain size, setting realistic performance aspirations gets a bit trickier.
4.26 K   |   50
Mark A. : AML & Financial Crime Compliance Training - Quit 'Box Ticking'

AML & Financial Crime Compliance Training - Quit 'Box Ticking'

Anti Money Laundry (AML) & Financial Crime Compliance training needs to be more than just facts and a little quiz
1.51 K   |   50
Albert E. : Better Operational-Risk Management For Banks

Better Operational-Risk Management For Banks

Operational risks are costly, but they can be conquered when high-ranking executives join the battle.
9.25 K   |   50
Back to top
54